JAKARTA - Shares of PT Asuransi Tugu Pratama Indonesia Tbk (Tugu Insurance/Tugu) are predicted to reach the level of IDR 1,900 per share by 2025.
Phillip Sekuritas analyst Edo Ardiansyah targets the TUGU price of IDR 1,950 per share or equivalent to the Price to Book Value (PBV) ratio of 0.69x for 2025. In Wednesday's trading (January 8, 2024), TUGU's share price closed at IDR 1,010.
Edo highlighted several catalysts for TUGU shares in 2025, including improvements to macroeconomic sentiment, especially in the event of a decrease in the benchmark interest rate, higher-than-expected TUGU investment returns, as well as lower-ratio loss.
"The monument shows solid financial performance, placing itself ahead of competitors with superior major metrics, including an extraordinary solvency ratio (RBC) of more than 400 percent compared to industrial medians of 359 percent and well above the minimum OJK requirement of 120 percent which reflects the company's stability and financial resilience," he quoted Antara as saying.
He also saw that TUGU's profitability in September 2024 improved. TUGU's net profit sourced from core operation without calculating the income at any time for winning the lawsuit against Citibank NA grew 120 percent year-on-year (yoy) to Rp592 billion from the previous Rp269 billion.
Edo predicts that the TUGU performance in 2025 will still grow positively with underwriting income projected to grow in the 10-13 percent range, while loss ratio can be maintained below 60 percent and net profit is also able to grow double digits of at least 10 percent.
TUGU is also expected to consistently distribute dividends with a payout ratio of 40 percent and with the latest reference price potentially providing yields of at least 8 percent.
SEE ALSO:
-
| EKONOMI
Pemangkasan Suku Bunga Acuan Bakal Bikin Pasar Saham RI Menguat Berkelanjutan
16 Januari 2025, 19:03 -
| EKONOMI
IHSG Kamis Diprediksi Kembali Alami Penguatan, Simak Rekomendasi Sahamnya
16 Januari 2025, 07:07
In addition to Phillip Sekuritas, Trimegah Sekuritas has set a target price for TUGU at IDR 2,435 per share.
Furthermore, stock brokers from Korea, namely Kiwoom Sekuritas and Shinhan Sekuritas, set a target for the share price of TUGU at Rp2,100 per share and Rp2,050. Then, BCA Sekuritas with a purchase recommendation and a target price of Rp1,600 per share and NH Korindo Sekuritas with a target price of Rp1,990 per share.
Thus, the average target price of TUGU shares is at IDR 1,993 per share.
The English, Chinese, Japanese, Arabic, and French versions are automatically generated by the AI. So there may still be inaccuracies in translating, please always see Indonesian as our main language. (system supported by DigitalSiber.id)
